Nasdaq-listed BTCS to boost ETH holdings with $57.8M raise 🚀
Publicly traded company BTCS announced a $57.8 million financing agreement led by ATW Partners to acquire Ether, expanding its blockchain infrastructure strategy.
The financing move aims to expand validator node operations, build recurring revenue from ETH staking, and follows a strategic blueprint similar to MicroStrategy's Bitcoin accumulation.
BTCS issued an initial $7.8 million in convertible notes and retains an option to draw an additional $50 million.
Despite the Ether market surge placing it as the 39th-largest asset, BTCS bet on Ethereum for its revenue-driving potential and future growth.
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